{"id":35314,"date":"2016-10-18T03:01:25","date_gmt":"2016-10-18T03:01:25","guid":{"rendered":"https:\/\/prelive.ceosuite.com\/news\/interview-feng-shui-matters-for-business-in-asia-ceo-suite-chief\/"},"modified":"2016-10-18T03:01:25","modified_gmt":"2016-10-18T03:01:25","slug":"interview-feng-shui-matters-for-business-in-asia-ceo-suite-chief","status":"publish","type":"new","link":"https:\/\/prelive.ceosuite.com\/en-id\/news\/interview-feng-shui-matters-for-business-in-asia-ceo-suite-chief\/","title":{"rendered":"[INTERVIEW] Feng shui matters for business in Asia: CEO SUITE chief"},"content":{"rendered":"\n
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[INTERVIEW] Feng shui matters for business in Asia: CEO SUITE chief<\/h1>\n \n
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\n Oct 18, 2016<\/span>\n <\/div>\n <\/div>\n
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Feng shui can be laughed off as mere superstition in today\u2019s highly advanced society, but Kim Mee, the founder and president of CEO Suite, believes that selecting the best place with this age-old art is the first step for successful business in Asia.<\/p>\n

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That is why it took more than five years for the firm to open its second location in Seoul, she said during an interview with The Investor at her office in downtown Seoul earlier this month.<\/p>\n

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\"Ms<\/p>\n

Kim Mee, the president of CEO Suite<\/span><\/p>\n<\/div>\n

\u201cI believe Feng shui gives you the necessary energetic support to attract your wealth and fortune. That\u2019s one of the decisive factors during the site selection process,\u201d Kim said.<\/p>\n

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CEO Suite rents out fully-serviced offices, with most of its clients being multinational firms seeking entry into Asian countries. But unlike its peers, the firm also provides all sorts of administrative services, depending on the needs.<\/p>\n

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\u201cWe were able to survive in the red ocean because we focused on offering services that meet clients\u2019 needs, unlike our rivals that only rent out space,\u201d said Kim, who has 28 years of experience under her belt in the serviced office industry.<\/p>\n

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\u201cWhile we worked on our unique market positioning, other industry players were sold to investors like private equity firms,\u201d she noted.<\/p>\n

\"Kim<\/p>\n

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Kim first launched the business in Indonesia in 1997. With its latest Seoul location at Parnas Tower in Gangnam that will open in September, CEO Suite now runs 19 business centers in nine Asian cities including Beijing, Hanoi, Shanghai, Manila, Bangkok, Kuala Lumpur and Jakarta.<\/p>\n

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Some of CEO Suite\u2019s high-profile corporate clients include Deloitte, Ernst & Young, Samsung and POSCO.<\/p>\n

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One key to success was catering to changing client demands.<\/p>\n

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\u201cFirms these days want to cover several Asian markets at the same time and seek a diversity of services from us, from manpower and tax reporting to even interior decoration,\u201d Kim said.<\/p>\n

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Another strength CEO Suite has over powerful rivals such as London-based Regus lies in its customized approach.<\/p>\n

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\u201cI believe there are customers who want to buy bread from small artisan bakers who ferment the dough and deal with the whole baking process, something a giant bakery chain cannot do,\u201d Kim said.<\/p>\n

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For that reason, Kim has turned down an array of merger and acquisition offers. She doesn\u2019t want to expand the firm\u2019s business portfolio to other sectors.<\/p>\n

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\u201cSeveral investors suggested launching a consulting firm for startups, boutique hotel or a luxury spa. Some wanted to invest in CEO Suite but I always said no, because then we can\u2019t make decisions independently and chasing profit becomes the firm\u2019s top priority,\u201d Kim said.<\/p>\n

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Her latest decision to open a center at Parnas Tower, located in one of Seoul\u2019s most expensive business districts, was in line with this long-term approach.<\/p>\n

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\u201cIf I had investors, they would say I\u2019m crazy because I\u2019m making a big bet on Seoul despite the sluggish market sentiment,\u201d Kim said.<\/p>\n

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So far, her judgment has not failed her; all of the 19 centers are making profit. And the average occupancy rate for CEO Suite\u2019s centers stands at 90 percent.<\/p>\n

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This year, CEO Suite\u2019s combined revenue is expected to reach 45 billion won (US$40 million), led by its Chinese operations.<\/p>\n

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The firm is also beginning to see more opportunities in the Middle East, Mexico and African countries. \u201cAfrica and Middle East are regions where our potential customers find it hard to get business resources and information,\u201d Kim said.<\/p>\n

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By: Park Han-na (hnpark@heraldcorp.com)<\/p>\n

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